TITLE	Supreme Court Decision 2016Do17465 Decided March 22, 2017¡¼Violation of the Special Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Embezzlement); Violation of the Special Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Bribing, etc.); Violation of the Special Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Breach of Trust); Fraud; Occupational Breach of Trust; False Incrimination of Another¡½ [full Text]
Summary
Whether embezzlement is established against the entrusting corporation in a case where a corporation: (a) establishes a special purpose corporation as a nominal entity for a specific project; (b) implements the project, including the financing, under the name of the special purpose corporation; (c) yet exercises decision-making authority as the substantive actor of the project as to the management and disposition of funds; and thus, (d) practically governs the funds held in the name of the special purpose corporation, and where the representative, etc. of the corporation, as the substantive actor of the project, arbitrarily spends the funds held by the special purpose corporation beyond the scope of the set purpose and use (affirmative) Victim of embezzlement in a case where a foreigner, as the representative of a domestic corporation, commits embezzlement by arbitrarily spending the funds that the domestic corporation entrusted to a special purpose corporation established in a foreign country beyond the scope of the set purpose and use (held: the domestic corporation that entrusted the funds) Whether Korean courts have jurisdiction even when the act took place in a foreign country (affirmative in principle)

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